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Show FINANCIAL WRITER SAYS THE MARKET IS "SPOTTY" Vigorous Expansion in Trade Noted at the Beginning Begin-ning oi April Has Not Been Maintained. By B. C. Forbes. By International Srws Frvir. NEW YORK, Apm 27. Qualifying phrojies must bfl ii-'oj in descxib Ing ' ondltlon.i tli tilt moKMBd TlM vigorous rxpan.sion In tr.ido noted at the oprMiinjr of vpi'H not bn tTiaintuined in every direction. The position today 1b "potty." rovioprnont?i bave been mixed Thu th coal dlfpute la Virtually ttlol and th thmtened railway .iriie on tifty fatfrri raQ road 8 hue been aTertod t!irou(rh tlii acceptance or friend offers of mediation from government offlelala Our rHiirmri. altboucb bandlbis enormonu volumes of traffic, lm e rpn unable to unp a tem upon expeneee .'th tlie unhappy ronseo'inee. thai profits have been cut Into so herlousK- that. Unless improvement OK-curs. nior than one po--n;d -t.-indnrrl r..d ! obliged to re.)i: its dividend disburse" Rietnts. Aaricultural prospects have been biisJntetVetl appreciably, indeed, wheal has Roaiefl mi. on r'o r 1 ;i I.I .trnl talk of very much hitrhoi prices la rife. Market Is Firm. The stock market, however iia not b-eu frightened by any or nil of these heppenlnica One of Hjaorlca-'e most promlnenl bankers -ho has n band in tli employment of one of tiir itesi organizations of capit.n In the world, said to Die a day or two ajo "I ttiiiot .. how we, -an hav a Ptor-k market boom when poini'-s Is so ChaotlO as It Is todav. The railroad situation, too is dlstreselng The oot of earnins a floliar hay gone up unduly, as the March result? wPl clearly f,ho'. Thf railroads havr j.d so manv burdens bur-dens laid upon them and have been BO thwarted In their effort? to recoup them-sdlves them-sdlves t ; . a t their finance-, are .ir.'ftin? Into a rjtirlotin state. 'New .-iipitn: cannot be raised except on Mirr terms you cannot blame Investors Inves-tors for hesitating to IntniFt their funds to railroad manager." under the handicaps now enforce) "Tf we shouM enjoy bounteous crop? .-.nd prosperous tr;,rie this fall our railroads rail-roads would suffer the worst blockade have ever known. In their rflV.rl to make ends meet, the railroads have had pin.'h their properties ;ind allow equipment equip-ment to run down." All this may convey a too peF.--imiiti: idea of what ic Whai The outlook lv and iire. iki black, it Is distinctly bettor than ii was when th- e;lr opened Only the optimism of .1 month ago bus liad to be modified by subsequent events. Foreign Trade Booming- Money rates are low a factor of Die nrsi Importance from the financial polbl or view. )ur foreign trade is booming Warmer weathei will greatly Btlmulate lebill trade throughout the OOtintTy Sunshine Sun-shine will also add untold millions to the potential volume of ou,- growing crops. T..nlor disputes nrr- beln settled without with-out resort to violent strike, although the wajje Increases granted must necessarily add to the cost of production and therefore there-fore swell the cost of living The revival In copper i well maintained. The Iron ndustrj la employed to almost full capacity, ca-pacity, although here also profits are comparatively com-paratively light Sentiment Is still cheerful, nnd this counts for much. Furthermore. the American people have unquestionably passed through a period of relative economy econ-omy and are beginning to feel dlsposM to spend with more, freedom. Old clothes have been prelty well worn out. Spring suggests further purchases, 1! was Edward IT. Harrlman who said When the people took fo wearing old overcoats 'he longer outlook could be viewed with every confidence The people peo-ple have been wearing old overcoats, but are now thinking of donning new ones. I.et the- sun 1 ome out strongly for a week Or two and manv of the obstacle? now engaging attention would melt away. Oven the politicians are no match for nature For the moment, however, the wise men will look upon both sides of the picture and closely follow the kaleidoscopic kaleido-scopic changes which each day brings Bank Statement. NEW TORK. April 87. The statement of clearing house banks for the week shows that the banks hold $11.703.550 reserve re-serve In excess of legal requirements This is an Increase of $2,408,800 in the proportionate cush reserve us compared with last week. The statement follows: Dally average Loans, $1,992,316,000; decrease. 12.109. i Sleole, $351,340,000: Increase. BT8,000. Legal tenders $$4,281,000; Increase, s j r ; .000. Net deposits, $1,10,.'19.000; decrease 12,620,000 Circulation, J4S.173.O0O; decrease, $102 - 1111O Banks' cash reserve In vaults $307 - 7S6.0O0. Trust companies' cash reserve In vault, S'lT S3:.. 000. Aggregate cash reserve $435 621.000. Excess lawful reserve, 819,708,000; Increase. In-crease. $2,403,600. Truat companies' reserve wllh clearing house members carrying 25 per cent cash reserve, $60,252 000. Actual condition. Loans, $1,996,026,000; Increase $589,000 Specie. $352,621,000; decrease. $160,000 1 egal tenders. $S5,000.00ll ; Increase Si -3S 2.00W. Net deposits. $1.R15.17.000; increase. $6 925:Ono. Circulation. S1S.2S3.00O . increase, SML- 000 banks' cash reserve In vault, $869 - 0. ". 4, 000. Trust companies' cash reserve in vault j $68,667 000. aggregate cash reserve, $487,621,000. Bbu ess lawful reserve, $19. 677.050 cle-i cle-i crease. $141,950. Trust companies' reserve with clearing house members carrying 25 per ent cash r: serve, $60,095,000. Summary of Htatc- banks and trust com-panles com-panles in Greater New York not reporting report-ing to I lie .".: York clearing house Loans, $632,129,400; decrease- $1 223 700 Specie. $65,615,200; decrease $468,900 Legal tenders, $11,008,900: decrease $51,400. Total deposits. $710,481,000: decrease $1,244,000. The Financier will say: Llttlo change occurred n ihe position of the New York clearing house hanks, according to their statement issue' Saturday, Sat-urday, covering the current week. Taking Tak-ing the actual condition report hh a basis, the banks gained $1,222,000 in 1. -ish loans made a slight Increase of $869,000, while deposits rose $6,986,000. a. larger sum than anticipated In view or the smttll changes In other items. The resull was .reserve requirements necessitated necessi-tated an amount somewhat larsrer than the total gain In cash. In consequence of which e.ces reserve decreased $141,960, leaving the present surplus above the 25 per cent requirement minimum a! S19 - 67 .'."50. The banks v,e hern gaining money from the Interior and, considering the means "f replenishment whlcb they pos-i pos-i is in other directions, their present It-') tun tion must be regarded as most -ati'-,- faetory. New York Bonds. I I P ret tn reg ...100 M. K ft T Ut B... BfiU I AO .-oupon ... .... 14044 do sn 4 . ... v;' do Sa rej ln;i, Mo Pac 4a T'4 do coupon 10; N Rys or M 4'- .. do u reg 114 N Y i sen l- .... ft;i do coupon 114'4 do rtl 4, ....... 4 Allls :uai 1st HffcWortli rac nj-. Am Agrli-nl f.i .. ,.10214 a Bi 9'4 A in T ft T OY 4i 116 0 B I. TtK in Hi, Am Toba. 00 la Wtg 8t L ft S F fx 7'"i do IBOIg do xen 5a H Armour A Co 4it,. g p,)i --,,- rr. i, ., jpj l-b X"" 4, 9i ilt n i ,.-,1, B ft O ta M do lat rr t ... : do 2 p:4 Union p.- 4 101 C ft O 4 10044 d (T 4a ....... ion; do rl ""'j .Jo UX ft tef 4a . U i ft C, 4k I S S-cc 24 . lirj4 do raf u f ;-, X !.,!, im r.-i ui Con Ut m 4, do i,i ft u la u K r Boeth ii , . 7:4 Mo r. t ." . ! ti S d-b 4, P-.J .. MUftUUUM 101 j L ft N tin 4s W4 Chicago Produce. CHICAGO, April 27.- Butte; steady; creaiiierles. 2't'31i-; dairies. 2i(Ji'2c. ; ICggs nx: receipts, ':4.49r. .jises; at mark, cases Included, 17yl7c; ordinary firsts, IT--; Rrats, r$c t h -s e steady; daisies, 1619161c: twins, I l'"i " I Vnung Ami ica. Uau.l5:. l.-i I horns, I54yi5ic |